Las Vegas Sands Pays $47.4 Million to Feds to Escape Criminal Charges
Nevada Sands Corp. is forking over $47.4 million towards the Feds to avoid indictments that are criminal cash laundering
A lot of specific states make bank on gambling activities of their constituents; things such as for instance lotteries and casino taxes. But the government that is federal to have found their cash cow at a much higher and slicker level today: skimming huge sums from indicted gambling organizations in change for the culprits getting away with light or no sentencing.
Full Tilt boss Ray Bitar was an example that is notable of recently, and now Las Vegas Sands Corp. headed by billionaire curmudgeon Sheldon Adelson has followed suit, agreeing to pay $47.4 million in punitive fines so that federal prosecutors do not slam the casino conglomerate with criminal fees for money laundering. Just the cost of conducting business, it seems.
DoJ and Sands Come to Terms
A recently signed agreement between the U.S Department of Justice (DoJ) and Las vegas, nevada Sands states that, based on evidence, the company had been recalcitrant in alerting federal authorities when one of its whales made numerous questionably large deposits at their Las vegas, nevada casino The Venetian in 2006 and 2007. The high stakes gambler in question was later tied to a major international drug trafficking ring.
The agreement ends a two-year unlawful investigation by the U.S. Attorney’s office in Los Angeles, and that office has consented to seek no further indictments also.